Exciting Facebook Updates in October 2016

Do you run a business or advocate a brand? Then it’s very likely that you use FB ads to increase your reach.

Here’s a summary of some of the exciting updates announced by FB last month. Yes, it’s November, but you might have missed these important announcements. Let’s look at the exciting ones.

1. Dynamic Ads for retail— this helps merchants or retailers serve FB ads of products that are available in a store close to the person seeing the ad. This also works based on the interest of the target audience. These ads are priced at CPM (cost per mille) or cost per thousand impressions.

2. Adding 360-degree video to FB Canvas

Facebook Canvas is where you can tell stories about your products or services using not just still images but also audio and video. It’s actually a tool for storytelling without taking the user out of the mobile app. When previously, the user is given a link to a YouTube video, in Canvas, these media can be exeprienced withtout taking the user out of the app. With Canvas, no need to wait for a landing page to open. This feature makes use of Facebook Instant where content is delivered at “lightning” speed.

What’s a 360-degree video? It’s a video that let’s you look in any direction (up or down, left or right) not just where the camera is pointing. While the video is playing, swipe the screen to look around. You can also achieve the same by simply moving your phone. Click on the video below to see an example of a 360-degree video:

Bottomline: The user is given a different kind of experience looking thru ads resulting in better engagement. The ad is supposed to stir the user’s emotions.

3. Workplace— a tool for you to collaborate with your team (previously called Facebook at Work)– provides the ability to chat and share information with Groups or make use of the features FB Live, Trending, etc.

4. A new measurement tool— this helps advertisers keep track of their ROI both online and offline. It’s based on the “people-based measurement” to give brands more accurate results. To achieve this, FB partnered with companies like Nielsen Catalina Solutions, Oracle Data Cloud, Neustar MarketShare, among others.’

5. Marketplace— to let users buy and sell items through FB’s mobile app.

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